Research analysts who have asked questions during AMBEV earnings calls.
LF
Lucas Ferreira
JPMorgan Chase & Co.
4 questions for ABEV
Also covers: AGRO, ASAIY, BRFS +7 more
TD
Thiago Duarte
BTG Pactual
4 questions for ABEV
Also covers: AGRO, AGRO3.SA, BRFS +4 more
Isabella Simonato
Bank of America
3 questions for ABEV
Also covers: AGRO, BRFS, CSAN +3 more
Leonardo Alencar
XP Investimentos
3 questions for ABEV
Also covers: BRFS, JBS, JBSAY +1 more
Carlos Laboy
HSBC
2 questions for ABEV
Also covers: CCEP, FMX, KO +3 more
Felipe Ucros Nunez
Scotiabank
2 questions for ABEV
Also covers: CCU, KOF
HB
Henrique Brustolin
Bradesco BBI
2 questions for ABEV
Also covers: AGRO3.SA, BRFS, CCU +4 more
RA
Ricardo Alves
Morgan Stanley
2 questions for ABEV
Also covers: FMX, JBS, JBSAY +2 more
GP
Guilherme Palhares
Santander
1 question for ABEV
Also covers: BRFS, JBS, MRRTY +2 more
Isabella Simonato Alonso
Bank of America Merrill Lynch
1 question for ABEV
Also covers: JBS, SQM
RC
Renata Cabral
Citigroup
1 question for ABEV
Also covers: FMX, JBS, KOF
RF
Renata Fonseca Cabral Sturani
Citibank
1 question for ABEV
Also covers: BRFS, FMX, KOF
RO
Robert Ottenstein
Evercore ISI
1 question for ABEV
Also covers: BUD, CCEP, CL +14 more
Rodrigo Alcantara
UBS
1 question for ABEV
Also covers: FMX, KOF
Recent press releases and 8-K filings for ABEV.
Ambev Reports Q3 2025 Results and Announces Share Buyback Program
ABEV
Earnings
Share Buyback
Demand Weakening
- Ambev reported Q3 2025 EBITDA growth of 3% with 50 basis points of margin expansion and normalized EPS grew 8%, driven by 7% net revenue per hectoliter growth despite softer industry volumes in Brazil.
- The Board of Directors approved a $1 billion share buyback program on October 29, 2025, for canceling shares, and a new BRL2.5 billion buyback program is starting after the previous one completed in June.
- Year-to-date, the company's top line grew 4%, EBITDA was up over 7% with 120 basis points of margin expansion, and normalized EPS grew above 7%, supported by cost initiatives and disciplined management.
- Industry softness in Brazil was attributed to colder weather (approximately 70% of the decline) and constrained consumer purchasing power, but Ambev's premium and super premium brands continued to grow volumes by more than 9%.
Oct 30, 2025, 3:30 PM
AMBEV S.A. Approves New Share Buyback Program
ABEV
Share Buyback
- AMBEV S.A. has approved a share buyback program to repurchase up to 208,000,000 common shares.
- The program's primary purpose is share cancellation to maximize shareholder value and will be in effect until April 29, 2027.
- The company currently has 4,253,039,958 outstanding shares.
- The estimated cost for the maximum repurchase is approximately R$ 2,500,000,000.00, based on the October 29, 2024 closing share price, representing about 15% of the Company's cash.
- The acquisition will be recorded as a debit on the capital reserve from the September 30, 2025 balance sheet.
Oct 30, 2025, 10:18 AM
Ambev S.A. Reports Q3 2025 Results
ABEV
Earnings
Share Buyback
Demand Weakening
- Ambev reported 1.2% organic net revenue growth and 2.9% organic Normalized EBITDA growth for Q3 2025, with Normalized EBITDA margin expanding 50 bps to 33.9%.
- Consolidated volumes declined by 5.8% organically in Q3 2025, primarily due to soft industries in Brazil, Canada, and Latin America South.
- Normalized Profit for Q3 2025 increased by 7.4% to R$ 3,843.1 million, while cash flow from operating activities decreased by 14.7% compared to Q3 2024.
- The Board of Directors approved a R$ 2.5 billion share buyback program for up to 208,000,000 shares to be executed within the next 18 months.
Oct 30, 2025, 10:08 AM
Ambev Reports Q3 2025 Results, Announces Subsidiary Sale and New Share Buyback Program
ABEV
Earnings
Share Buyback
Dividends
- Ambev reported net income of R$4,863,720 thousand and basic earnings per share of R$0.3041 for the third quarter of 2025, with nine-month net income reaching R$11,458,935 thousand.
- The company completed the sale of 61.83% of its interest in SLU Beverages LTD. for US$115 million (R$612 million) on July 31, 2025, recognizing a gain of R$884 million related to the transaction.
- A dividend of R$0.1283 per share was approved on July 30, 2025, and paid on October 6, 2025.
- A new share buyback program was approved on October 29, 2025, authorizing the repurchase of up to 208,000,000 common shares until April 29, 2027.
- The effective tax rate for Q3 2025 was 6.72%, influenced by the SLU disposal and a R$375 million impact from the partial reversal of a tax liability.
Oct 30, 2025, 10:04 AM
Quarterly earnings call transcripts for AMBEV.
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